[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1usbbr5sopgzy":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},36084,"down-payment-assistance-programs-can-help-pave-the-way-to-homeownership","Down Payment Assistance Programs Can Help Pave the Way to Homeownership","\u003Cp>If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231207\u002F20231212-Down-Payment-Assistance-Programs-Can-Help-Pave-the-Way-to-Homeownership.png","\u003Cp>If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fresearch-reports\u002Fhighlights-from-the-profile-of-home-buyers-and-sellers\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think:\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231207\u002F20231212-Todays-Median-Down-Payment-Is-Much-Lower.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231207\u002F20231212-Todays-Median-Down-Payment-Is-Much-Lower.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>Data from NAR \u003Ca href=\"https:\u002F\u002Fcdn.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002F2023-profile-of-home-buyers-and-sellers-highlights-11-13-2023.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">shows\u003C\u002Fa> the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.\u003C\u002Fp>\u003Cp>For example, there are loan types, like \u003Ca href=\"https:\u002F\u002Fwww.hud.gov\u002Fbuying\u002Floans\" rel=\"noopener noreferrer\" target=\"_blank\">FHA loans\u003C\u002Fa>, with down payments as low as 3.5%, as well as options like \u003Ca href=\"\u002F2022\u002F11\u002F10\u002Fva-loans-can-help-veterans-achieve-their-dream-of-homeownership\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">VA loans\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fwww.rd.usda.gov\u002Fprograms-services\u002Fsingle-family-housing-programs\u002Fsingle-family-housing-guaranteed-loan-program\" rel=\"noopener noreferrer\" target=\"_blank\">USDA loans\u003C\u002Fa> with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able to help with your down payment: down payment assistance programs.\u003C\u002Fp>\u003Ch4>\u003Cstrong>First-Time and Repeat Buyers Are Often Eligible\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>According to \u003Ca href=\"https:\u002F\u002Fdownpaymentresource.com\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Down Payment Resource\u003C\u002Fa>, there are thousands of programs available for homebuyers – and 75% of these are down payment assistance programs.\u003C\u002Fp>\u003Cp>And it’s not just first-time \u003Ca href=\"\u002F2023\u002F10\u002F26\u002Faffordable-homeownership-strategies-for-gen-z\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">homebuyers\u003C\u002Fa> that are eligible. That means no matter where you are in your homebuying journey, there could be an option available for you. As \u003Cem>Down Payment\u003C\u002Fem> \u003Cem>Resource\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fdownpaymentresource.com\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">notes\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>You don’t have to be a first-time buyer.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> Over 39% of all [homeownership] programs are for repeat homebuyers who have owned a home in the last 3 years.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>The best place to start as you search for more information is with a trusted real estate professional. They’ll be able to share more information about what may be available, including additional programs for specific professions or communities. \u003C\u002Fp>\u003Ch4>\u003Cstrong>Additional Down Payment Resources That Can Help\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Here are a few down payment assistance programs that are helping many of today’s buyers achieve the dream of homeownership:\u003C\u002Fp>\u003Cul>\u003Cli>Teacher Next Door is designed to help teachers, first responders, health providers, government employees, active-duty military personnel, and veterans reach their down payment goals.\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fcasa\" rel=\"noopener noreferrer\" target=\"_blank\">Fannie Mae\u003C\u002Fa> provides down-payment assistance to eligible first-time homebuyers living in majority-Latino communities.\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Fmyhome.freddiemac.com\u002Fbuying\u002Fdown-payments-and-pmi\" rel=\"noopener noreferrer\" target=\"_blank\">Freddie Mac\u003C\u002Fa> also has options designed specifically for homebuyers with modest credit scores and limited funds for a down payment.\u003C\u002Fli>\u003Cli>The \u003Ca href=\"https:\u002F\u002F3by30.org\u002Fhomeownership-101\u002Fget-help-buying-a-home\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">3By30\u003C\u002Fa> program lays out actionable strategies to add 3 million new Black homeowners by 2030. These programs offer valuable resources for potential buyers, making it easier for them to secure down payments and realize their dream of homeownership.\u003C\u002Fli>\u003Cli>For Native Americans, \u003Ca href=\"https:\u002F\u002Fdownpaymentresource.com\u002Fhomebuyer-resource\u002Fhighlighting-42-native-american-homebuyer-assistance-programs-in-honor-of-native-american-heritage-month\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Down Payment Resource\u003C\u002Fa> highlights 42 U.S. homebuyer assistance programs across 14 states that ease the path to homeownership by providing support with down payments and other associated costs.\u003C\u002Fli>\u003C\u002Ful>\u003Cp>Even if you don’t qualify for these types of programs, there are many other federal, state, and local options available to look into. And a real estate professional can help you find the ones that meet your needs as you explore what’s available. \u003C\u002Fp>","\u003Cp>Achieving the dream of having a home may be more within reach than you think, especially when you know where to find the right support. To learn more about your options, let’s connect.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231207\u002F20231212-Todays-Median-Down-Payment-Is-Much-Lower.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up","2023-12-12T11:30:00Z","2023-12-19T18:03:15Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},35088,"the-perfect-home-could-be-the-one-you-perfect-after-buying","The Perfect Home Could Be the One You Perfect After Buying","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231128\u002F20231211-The-Perfect-Home-Could-Be-the-One-You-Perfect-After-Buying.png","2023-12-11T11:30:00Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},36380,"the-surprising-trend-in-the-number-of-homes-coming-onto-the-market","The Surprising Trend in the Number of Homes Coming onto the Market","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20231212\u002F20231213-The-Surprising-Trend-in-the-Number-of-Homes-Coming-onto-the-Market.png","2023-12-13T11:30:00Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,69,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]